Billionaire O’Leary is bullish on the Metaverse

From bitcoin mining, to the metaverse, Kevin O’Leary is seeing huge opportunities for investment in the crypto sector, and especially in the Metaverse.

In a second-part interview on Kitco, O’Leary gave his views on various topics in the crypto space. His belief is that institutions are now looking to source their bitcoin from 100% clean sources. He sees that the days of buying carbon offsets are probably over, and that institutions want to be able to prove that what is being mined is coming from green sources such as hydro, and they are starting to divest themselves of stocks that are connected to “dirty” mining.

O’Leary went on to talk about the Metaverse, and he remarked that he thought the Microsoft acquisition of Activision Blizzard was very interesting, but that the real direction was towards the Metaverse, and the advertising that would take place there, primarily in gaming.

When asked about crypto pitches on O’Leary’s Shark Tank show, the billionaire replied that he was indeed seeing a lot more of them. His view is that crypto is just software, and in that case, was similar to stocks such as Facebook, Google, and Microsoft etc. According to him, it’s just all software.

It’s for this reason that he said he is starting to take positions in big platforms where the metaverse is going to live, such as Polygon, HBAR, Ethereum, and even Bitcoin. He doesn’t know which of these platforms will be successful, so that is why he is diversifying across quite a few of them.

He said that he is very aware that the Metaverse is quite a risky sector, given that it is such a new concept, and that markets do not have much data with which to price it. However, he says that even with Bitcoin, which is considered the safest and least volatile play in crypto, the investor must expect to stomach a lot of volatility.

He gives the example of Amazon, in which he has been an investor for the last 17 years. He said that this stock was very similar in the early times in that the price swings averaged around 55% every year.

He remarked that people would say periodically that Amazon was going to zero, while, as everyone knows, it has become a “behemoth” today. He thinks the same thing will happen with the metaverse projects eventually, and that investors would have to stay the course in order to take advantage of the potential enormous profits.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.